;
Home / Knowledge / News / Textiles / Equity markets continue to slide
Equity markets continue to slide
08
Aug '08
Commodities across the board rallied today and were due for a bounce after big pull backs recently in all sectors. The technical picture is looking better and oil and grains showed some good support today as cotton looks like it is setting up for a new sideways trading range between 69-72 cents.

We expect to see some upside scale up selling as we get closer to the USDA report on Tuesday. Volume was better at 16,000 futures and 8,000 options as we are seeing some oversold short covering help lift commodities as the equity markets continue to slide.

Sales and shipments finished out the 07/08 crop year last week and we have the final results. These numbers were better than last year, but still 200k under the USDA estimate. The August crop report will make that adjustment and we will get the first state by state breakdown of the U.S. crop.

We are getting beneficial rains throughout the Memphis/East and even in Lubbock today and tomorrow. All signs are pointing at better than expected production and lower than estimated consumption, but doubt we will see any significant changes on this coming report.

Technicals are starting to look better but we are still trading inside the range set on Monday which tops out at 72.00 and will be the next target to set up a sustained rally. Along with a hot dry August left to grow the Northern hem crop, there is a good chance the market will continue to find support under 69 cents.

If that is the case and we can hold that area on a few more tests, we should try and climb back and test the upper end of the range at 72 cents scale up. However, if the commodity complex continues to slide lower, Z'08 will have trouble sustaining rallies and should move lower long term into expiration.

Click here to view more:

ECOM USA Inc


Must ReadView All

Vietnamese garment firms plan to boost exports to Canada

Apparel/Garments | On 11th Dec 2018

Vietnamese garment firms plan to boost exports to Canada

As Vietnam is yet to sign a free trade agreement with Canada, so the...

Courtesy: Alizilla

Textiles | On 11th Dec 2018

Belgium, Alibaba promote inclusive global trade under eWTP

The Belgian Government and China’s Alibaba Group recently announced...

Courtesy: Kai Pilger from Pexels

Textiles | On 11th Dec 2018

India's textile-apparel exports fell slightly in H1 FY19

India’s overall textile and apparel exports in H1 FY19 stood at $18.4 ...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Italtex,

Italtex

Italtex is a leading studio publishing fabric trend-books since 1959....

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search